Thailand Gas Demand Increases

Staff Reporter 23.08.2009 21:08

Gas demand increase means positive

Thai Petroleum Executive Manager, Mr. Anan Sirisangtaksin, revealed that the increasing demand for gas is a sign that the national economy is recovering after demand dramatically dropped in the first two quarters.

This is very good news for PTT to continue gas production. Thailand currently produces energy from solar cell systems; Thai Bay Natural Gas Resources produce 8,000 barrels a day on average, and will soon be supported by Thai-Malay Joint Natural Gas Resource in October for an average of 270 million barrels a day to use in generating electricity which will be transferred to the PTT Rayong based plant for petrochemical production.

Due to the world’s unstable economic situation, PTT needs to reconsider the 5 Year Investment plan, worth 4.8 trillion baht, but still continue to focus on researching and seeking other energy resources in order to provide the energy for the country. Highly efficient gas sources are located in Australia, Indonesia and Myanmar. Thailand’s stock market is once again alive after the gas price has climbed up a bit higher. The price by the end of this year is expected to be $70 US a barrel.

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